This page shows Badger Mete (BMI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Badger Mete has an operating margin of 20.0%, meaning the company retains $20 of operating profit per $100 of revenue. This strong profitability earns a score of 67/100, reflecting efficient cost management and pricing power. This is up from 19.1% the prior year.
Badger Mete's revenue grew 10.9% year-over-year to $916.7M, a solid pace of expansion. This earns a growth score of 52/100.
Badger Mete carries a low D/E ratio of 0.36, meaning only $0.36 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.36, Badger Mete holds $3.36 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 65/100.
Badger Mete converts 18.5% of revenue into free cash flow ($169.7M). This strong cash generation earns a score of 71/100.
Badger Mete's ROE of 19.9% shows moderate profitability relative to equity, earning a score of 55/100. This is down from 20.6% the prior year.
Badger Mete scores 13.18, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($4.4B) relative to total liabilities ($260.3M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Badger Mete passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Badger Mete generates $1.30 in operating cash flow ($183.7M OCF vs $141.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Badger Mete earns $35.8 in operating income for every $1 of interest expense ($183.4M vs $5.1M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Badger Mete generated $916.7M in revenue in fiscal year 2025. This represents an increase of 10.9% from the prior year.
Badger Mete's EBITDA was $209.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 17.4% from the prior year.
Badger Mete reported $141.6M in net income in fiscal year 2025. This represents an increase of 13.4% from the prior year.
Badger Mete earned $4.79 per diluted share (EPS) in fiscal year 2025. This represents an increase of 13.2% from the prior year.
Cash & Balance Sheet
Badger Mete generated $169.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 19.3% from the prior year.
Badger Mete held $226.0M in cash against $0 in long-term debt as of fiscal year 2025.
Badger Mete paid $1.48 per share in dividends in fiscal year 2025. This represents an increase of 21.3% from the prior year.
Badger Mete had 29M shares outstanding in fiscal year 2025. This represents a decrease of 0.8% from the prior year.
Margins & Returns
Badger Mete's gross margin was 41.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.9 percentage points from the prior year.
Badger Mete's operating margin was 20.0% in fiscal year 2025, reflecting core business profitability. This is up 0.9 percentage points from the prior year.
Badger Mete's net profit margin was 15.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.3 percentage points from the prior year.
Badger Mete's ROE was 19.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.8 percentage points from the prior year.
Capital Allocation
Badger Mete invested $21.6M in research and development in fiscal year 2025. This represents an increase of 12.5% from the prior year.
Badger Mete spent $15.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Badger Mete invested $14.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 9.4% from the prior year.
BMI Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $220.7M-6.3% | $235.7M-1.0% | $238.1M+7.1% | $222.2M+8.3% | $205.2M-1.6% | $208.4M-3.8% | $216.7M+10.4% | $196.3M |
| Cost of Revenue | N/A | $139.8M-0.3% | $140.3M+10.7% | $126.8M | N/A | $124.6M-5.1% | $131.3M+10.2% | $119.1M |
| Gross Profit | $93.0M-3.0% | $95.8M-2.0% | $97.8M+2.5% | $95.4M+15.3% | $82.8M-1.3% | $83.9M-1.7% | $85.4M+10.6% | $77.2M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | $49.8M-6.0% | $52.9M+15.1% | $46.0M | N/A | $43.3M-1.4% | $43.9M+8.0% | $40.6M |
| Operating Income | N/A | $46.1M+2.7% | $44.9M-9.2% | $49.4M | N/A | $40.6M-2.1% | $41.5M+13.5% | $36.6M |
| Interest Expense | N/A | $1.3M+48.6% | $895K-32.9% | $1.3M | N/A | $2.3M+23.6% | $1.9M+22.0% | $1.5M |
| Income Tax | N/A | $12.4M+10.4% | $11.2M-9.6% | $12.4M | N/A | $10.9M+5.5% | $10.3M+15.0% | $9.0M |
| Net Income | $33.6M-4.3% | $35.1M+1.4% | $34.6M-9.9% | $38.4M+25.0% | $30.7M-4.1% | $32.0M-3.1% | $33.1M+13.5% | $29.1M |
| EPS (Diluted) | $1.14-4.2% | $1.19+1.7% | $1.17-10.0% | $1.30+25.0% | $1.04-3.7% | $1.08-3.6% | $1.12+13.1% | $0.99 |
BMI Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $973.6M-0.5% | $978.3M+4.5% | $936.4M+4.1% | $899.6M+10.2% | $816.4M+1.7% | $802.9M+2.8% | $781.3M+5.1% | $743.5M |
| Current Assets | $507.1M+2.5% | $494.6M+10.3% | $448.3M+8.9% | $411.6M-23.8% | $540.1M+2.0% | $529.3M+3.9% | $509.2M+8.2% | $470.6M |
| Cash & Equivalents | $226.0M+12.1% | $201.7M+22.1% | $165.2M+25.8% | $131.4M-55.5% | $295.3M+14.0% | $259.0M+14.5% | $226.2M+13.5% | $199.3M |
| Inventory | $151.9M-0.5% | $152.6M+3.6% | $147.3M-1.4% | $149.4M+4.2% | $143.4M-9.5% | $158.5M-1.7% | $161.3M+0.5% | $160.4M |
| Accounts Receivable | $112.4M-2.3% | $115.1M-2.2% | $117.7M+5.2% | $111.9M+32.6% | $84.3M-9.7% | $93.4M-12.1% | $106.2M+15.1% | $92.3M |
| Goodwill | $235.6M-0.5% | $236.7M+0.4% | $235.7M+1.8% | $231.5M+107.2% | $111.8M-2.8% | $115.0M+1.5% | $113.4M-0.1% | $113.5M |
| Total Liabilities | $260.3M-5.6% | $275.8M+6.5% | $258.8M+0.4% | $257.9M+22.7% | $210.2M-0.7% | $211.7M-3.0% | $218.1M+4.9% | $207.9M |
| Current Liabilities | $150.7M-1.8% | $153.4M+10.6% | $138.7M-1.6% | $141.0M+19.3% | $118.2M-8.5% | $129.2M-6.5% | $138.1M+2.2% | $135.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $713.3M+1.5% | $702.5M+3.7% | $677.6M+5.6% | $641.7M+5.8% | $606.2M+2.5% | $591.2M+5.0% | $563.1M+5.1% | $535.6M |
| Retained Earnings | $645.9M+3.5% | $624.1M+3.9% | $600.8M+4.3% | $576.2M+5.2% | $547.8M+3.9% | $527.1M+4.4% | $505.0M+5.2% | $479.9M |
BMI Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $54.8M+6.9% | $51.3M+15.0% | $44.6M+35.0% | $33.0M-36.6% | $52.1M+15.5% | $45.1M+23.8% | $36.4M+69.7% | $21.5M |
| Capital Expenditures | $4.0M+30.6% | $3.1M-21.6% | $3.9M+32.8% | $3.0M-36.5% | $4.7M+49.1% | $3.1M+33.8% | $2.3M-12.5% | $2.7M |
| Free Cash Flow | $50.8M+5.3% | $48.2M+18.6% | $40.6M+35.2% | $30.1M-36.6% | $47.4M+13.0% | $42.0M+23.1% | $34.1M+81.4% | $18.8M |
| Investing Cash Flow | -$4.0M-30.6% | -$3.1M-2.1% | -$3.0M+98.4% | -$187.9M-3924.5% | -$4.7M-49.1% | -$3.1M-33.8% | -$2.3M+58.8% | -$5.7M |
| Financing Cash Flow | -$26.7M-127.2% | -$11.8M-23.7% | -$9.5M+4.3% | -$9.9M+0.4% | -$10.0M0.0% | -$10.0M-34.7% | -$7.4M+3.9% | -$7.7M |
| Dividends Paid | $11.7M-0.3% | $11.8M+17.7% | $10.0M-0.1% | $10.0M+0.3% | $10.0M0.0% | $10.0M+25.9% | $7.9M-0.1% | $7.9M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
BMI Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.1%+1.5pp | 40.7%-0.4pp | 41.1%-1.9pp | 43.0%+2.6pp | 40.3%+0.1pp | 40.2%+0.8pp | 39.4%+0.1pp | 39.3% |
| Operating Margin | N/A | 19.6%+0.7pp | 18.8%-3.4pp | 22.2% | N/A | 19.5%+0.3pp | 19.2%+0.5pp | 18.6% |
| Net Margin | 15.2%+0.3pp | 14.9%+0.4pp | 14.5%-2.7pp | 17.3%+2.3pp | 15.0%-0.4pp | 15.4%+0.1pp | 15.3%+0.4pp | 14.8% |
| Return on Equity | 4.7%-0.3pp | 5.0%-0.1pp | 5.1%-0.9pp | 6.0%+0.9pp | 5.1%-0.3pp | 5.4%-0.5pp | 5.9%+0.4pp | 5.4% |
| Return on Assets | 3.5%-0.1pp | 3.6%-0.1pp | 3.7%-0.6pp | 4.3%+0.5pp | 3.8%-0.2pp | 4.0%-0.2pp | 4.2%+0.3pp | 3.9% |
| Current Ratio | 3.36+0.1 | 3.220.0 | 3.23+0.3 | 2.92-1.7 | 4.57+0.5 | 4.10+0.4 | 3.69+0.2 | 3.48 |
| Debt-to-Equity | 0.36-0.0 | 0.39+0.0 | 0.38-0.0 | 0.40+0.1 | 0.35-0.0 | 0.36-0.0 | 0.390.0 | 0.39 |
| FCF Margin | 23.0%+2.6pp | 20.4%+3.4pp | 17.1%+3.5pp | 13.5%-9.6pp | 23.1%+3.0pp | 20.1%+4.4pp | 15.7%+6.2pp | 9.6% |
Similar Companies
Frequently Asked Questions
What is Badger Mete's annual revenue?
Badger Mete (BMI) reported $916.7M in total revenue for fiscal year 2025. This represents a 10.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Badger Mete's revenue growing?
Badger Mete (BMI) revenue grew by 10.9% year-over-year, from $826.6M to $916.7M in fiscal year 2025.
Is Badger Mete profitable?
Yes, Badger Mete (BMI) reported a net income of $141.6M in fiscal year 2025, with a net profit margin of 15.4%.
What is Badger Mete's EBITDA?
Badger Mete (BMI) had EBITDA of $209.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Badger Mete's gross margin?
Badger Mete (BMI) had a gross margin of 41.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Badger Mete's operating margin?
Badger Mete (BMI) had an operating margin of 20.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Badger Mete's net profit margin?
Badger Mete (BMI) had a net profit margin of 15.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Badger Mete pay dividends?
Yes, Badger Mete (BMI) paid $1.48 per share in dividends during fiscal year 2025.
What is Badger Mete's return on equity (ROE)?
Badger Mete (BMI) has a return on equity of 19.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Badger Mete's free cash flow?
Badger Mete (BMI) generated $169.7M in free cash flow during fiscal year 2025. This represents a 19.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Badger Mete's operating cash flow?
Badger Mete (BMI) generated $183.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Badger Mete's total assets?
Badger Mete (BMI) had $973.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Badger Mete's capital expenditures?
Badger Mete (BMI) invested $14.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Badger Mete spend on research and development?
Badger Mete (BMI) invested $21.6M in research and development during fiscal year 2025.
What is Badger Mete's current ratio?
Badger Mete (BMI) had a current ratio of 3.36 as of fiscal year 2025, which is generally considered healthy.
What is Badger Mete's debt-to-equity ratio?
Badger Mete (BMI) had a debt-to-equity ratio of 0.36 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Badger Mete's return on assets (ROA)?
Badger Mete (BMI) had a return on assets of 14.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Badger Mete's Altman Z-Score?
Badger Mete (BMI) has an Altman Z-Score of 13.18, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Badger Mete's Piotroski F-Score?
Badger Mete (BMI) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Badger Mete's earnings high quality?
Badger Mete (BMI) has an earnings quality ratio of 1.30x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Badger Mete cover its interest payments?
Badger Mete (BMI) has an interest coverage ratio of 35.8x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Badger Mete?
Badger Mete (BMI) scores 67 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.